Lodestar Investment Counselil Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Lodestar Investment Counselil reduced its stake in EMC Corporation by 0.94% during the most recent quarter end. The investment management company now holds a total of 277,336 shares of EMC Corporation which is valued at $7,368,818 after selling 2,637 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.EMC Corporation makes up approximately 1.04% of Lodestar Investment Counselil’s portfolio.

EMC Corporation closed down -0.01 points or -0.04% at $26.47 with 1,16,66,570 shares getting traded on Wednesday. Post opening the session at $26.45, the shares hit an intraday low of $26.285 and an intraday high of $26.51 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Seaward Management Limited Partnership reduced its stake in EMC by selling 106,544 shares or 26.88% in the most recent quarter. The Hedge Fund company now holds 289,837 shares of EMC which is valued at $7,700,969. EMC Corporation makes up approx 0.41% of Seaward Management Limited Partnership’s portfolio. Breton Hill Capital Ltd. added EMC to its portfolio by purchasing 56,677 company shares during the most recent quarter which is valued at $1,448,097. EMC Corporation makes up approx 0.53% of Breton Hill Capital Ltd.’s portfolio.Banced Corp boosted its stake in EMC in the latest quarter, The investment management firm added 2,400 additional shares and now holds a total of 38,523 shares of EMC Corporation which is valued at $984,263. EMC Corporation makes up approx 1.71% of Banced Corp’s portfolio.

On the company’s financial health, EMC Corporation reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.33. The company had revenue of $5475.00 million for the quarter, compared to analysts expectations of $5640.05 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on EMC Corporation. Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 31.50 from a previous price target of $31 .EMC Corporation was Downgraded by Raymond James to ” Outperform” on Apr 7, 2016.

EMC Corporation (EMC) is a service provider to information technology (IT) operations to an as a service model (ITaaS). It develops delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure VMware Virtual Infrastructure and Pivotal. EMC Information Infrastructure business consists of three divisons: Information Storage Enterprise Content Division and RSA Information Security. EMC Information Infrastructure provides a foundation for organizations to store manage protect analyze and secure quantities of information. VMware develops and markets its product and service offerings within three main product groups: Software-Defined Data Center Cloud Services and End-User Computing. Pivotal’s three offerings include the Pivotal Big Data Suite Pivotal Labs and Pivotal Cloud Foundry.

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